The Weekly Gaming Business Wrap -- 11/24/12Stay Informed About The Gaming World |
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Here’s a look at the headlines for this week in the gaming business world.
Details Of the Six Proposals For Second Philadelphia Casino
Businessweek takes a look at each of the six proposals currently being considered by the Pennsylvania Gaming Control Board for the second casino license in Philadelphia. In addition to Penn National Gaming, Wynn Resorts and PHL Local Gaming LLC, three developers have also thrown their hat into the ring.
Third-Quarter Gross Operating Profits Fall 18 Percent In Atlantic City
Atlantic City’s saw a 17.9 percent decrease in gross operating profit during the third quarter of 2012, according to the Division of Gaming Enforcement. The city’s 12 casinos brought in $149.5 million during the stretch, compared to $182.1 million in 2011 during the same time period.
Indiana Gaming Revenues Continue To Fall
Facing increasing competition in Ohio, Michigan and Illinois, riverboat casino revenue in Indiana continues to take a hit. Of the state’s 13 casinos, 10 are in counties adjacent to neighboring states. Senate President David Long (R-Fort Wayne), hopes his state’s casinos can become more attractive to compete.
Thousands Are Vying For Chance To Attend Maryland Casino’s Dealer School
In preparation for the addition of table games, Maryland Live casino has decided to arrange a free dealer school, despite the fact that jobs won’t be available for another five months. So far, 2,065 dealers have applied to attend the school, hoping for one of 800 jobs at the casino. Maryland Live expects more than 10,000 applicants overall.
Connecticut Casino Slump Hurts State Budget
The state of Connecticut receives 25 percent of slot machine revenue from Foxwoods Resort and Mohegan Sun, but sluggish numbers from the state’s two properties have resulted in less money for the state. Connecticut took in $430 million in tax revenue in 2007, but their take has been dropping ever since. That and other factors will see the state’s budget face an estimate $365 million shortfall for 2012.
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